Private equity investor Everstone Group has made an undisclosed investment to acquire a stake in Translumina, leading global manufacturer and distributor of cardiac stents and cardiovascular medical devices. The proceeds from the investment will help Translumina accelerate the company’s growth and scale its operations globally.
Translumina’s technologies, developed in collaboration with the German Heart Centre and are endorsed by the European Society of Cardiology, combines the best of German technology, intellectual property and high-quality standards with Indian capabilities of manufacturing innovative products at affordable prices. The company has its development and manufacturing capabilities of stent delivery systems in India and Germany. It distributes its products in over 30 countries across Europe, Asia, Latin America and Middle East.
Everstone’s partnership will help the Company to acquire global assets, augment the company’s research and development efforts, bolster its India manufacturing capabilities and enhance Translumina’s distribution ecosystem.
“We are excited to partner with Everstone group who possess the best expertise in the market today to guide young companies to become large multinationals. Everstone’s sectoral and international experience will help Translumina achieve its’ global ambition by strengthening our organization and systems while retaining our agility and entrepreneurial spirit to create strong footprints in healthcare market” said Gurmit Singh Chugh, Chairman of Translumina.
“Translumina is extremely well positioned to emerge as a global leader in stents and cardiovascular technologies at highly affordable prices. Everstone’s expertise in healthcare will help unlock the company’s full potential by scaling manufacturing, strengthening its global distribution and driving new product development” said Arjun Oberoi, Managing Director, Everstone Group.
A manufacturer of innovative cardiovascular medical devices used in interventional cardiology and minimally invasive surgery, Translumina’s flagship products such as YUKON Choice PC, YUKON Choice Flex, YUKON Chrome PC and VIVO ESAR represent the 3rd generation drug eluting stents systems. The company is claimed to be the the only company that has published 10-year safety and efficacy data for its Yukon Choice PC stent in a head-to-head study against Xience, a market-leading stent from Abbott, as per the ISAR-TEST 4 study presented at the 2018 American Heart Association meeting. Translumina also markets a wide range of cardiovascular devices including coronary angioplasty balloons, structural heart disease products and cardiac assist devices at present.
With assets in excess of $5 billion across private equity, real estate, green infrastructure and venture capital, Everstone is currently a premier investment group focused on India and South East Asia.